HOWMET ELECTS DAVID L. SQUIER PRESIDENT AND CEO
HOWMET ELECTS DAVID L. SQUIER PRESIDENT AND CEO GREENWICH, Conn., Jan. 16 /PRNewswire/ -- The board of directors of
Howmet Corporation has elected David L. Squier president and chief executive officer of the company, effective April 1, 1992, it was announced today. In this position, Squier succeeds Joseph L. Mallardi, who has been chief executive officer of Howmet since 1986 and with the company for 37 years.
Squier has been associated with Howmet in a number of senior management assignments for over 20 years, most recently as executive vice president and chief operating officer. In his new position, he will be responsible for the operations of an organization with more than $1 billion in sales and 31 manufacturing facilities in six nations. In commenting on today's announcement, Michel A. Simonnard, executive vice president and group delegate for North America of the Pechiney Group, of which Howmet is a member, said Mallardi will continue to be actively involved, through December 1993, in the direction and expansion of Howmet's international operations. "In the years ahead," Simonnard said, "Howmet's businesses in Europe and Asia are expected to post significant growth rates. Mr. Mallardi will work with Howmet's management to strengthen the company's international presence and to assure that all operations around the world share the same level of excellence." Simonnard added that under Mallardi's leadership as chief executive officer, Howmet's sales grew from $658 million in 1985 to more than $1 billion in 1991, and significant strategic accomplishments were recorded, including development of a new business for the refurbishment of engine-run jet engine parts and the acquisitions of two companies that further broadened Howmet's product lines. Mallardi also will remain a director of the company. Squier joined Howmet in 1971 and has served as plant manager at the Hampton (Virginia) Casting Division and general manager of the Wichita Falls (Texas) Casting Division, as well as in charge of the company's operations in refurbishment and in product support. In 1988, he was named Howmet executive vice president and, in September 1991, assumed the additional responsibilities of chief operating officer. He has been a director of the company since 1987. Squier holds a bachelor of science degree in mechanical engineering from Lehigh University and a master of business administration degree from the Wharton School of Finance and Commerce at the University of Pennsylvania. Mallardi joined Howmet in 1954 and served in various management positions at the company's casting facilities in Dover, N.J. and LaPorte, Ind., prior to being put in overall charge of the company's casting operations in 1977. In 1981, he was elected a director of the company; in 1984, he became executive vice president and chief operating officer; and in 1985, he assumed the positions of president and chief executive officer. Howmet is a world leader in the manufacture of precision investment castings of superalloy, titanium and aluminum alloys, primarily for jet aircraft and other gas turbine engines. The company also is an important supplier of superalloy metal, titanium, and ceramic products, and advanced tooling; provides component refurbishment, hot isostatic pressing, machining and coating services; and conducts broad-scale research and development in materials, products and process technologies. The Pechiney Group is a global company with major businesses in packaging, aluminum and engineered products, with worldwide annual sales of about $14 billion. Squier will continue to be located at Howmet executive offices in Greenwich, Conn. -0- 1/16/92 /CONTACT: Brian Wilson of Howmet, 203-625-8833,/ CO: Howmet Corporation ST: Connecticut IN: SU: PER FC-TS -- NY014 -- 0367 01/16/92 09:28 EST
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|Date:||Jan 16, 1992|
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